Tritium price target lowered to $3 from $8 at Credit Suisse

Credit Suisse analyst Maheep Mandloi lowered the firm’s price target on Tritium to $3 from $8 and keeps a Neutral rating on the shares. Valuation is attractive and Mandloi also expects top line and margin growth potential as the U.S. factory ramps up and the company avoids higher freight cost, but also believes management needs to diversify into lower power categories to better compete with conglomerates who have a wider range of product offering, the analyst tells investors in a research note.